  |
Hours | Ask a Librarian | Online Requests | Remote Logon | |
 |
Library Catalog | Databases | Site Map | Help | Search | |
| Home
Development Message Gift
Opportunities Howe Society |
Planned Gifts & Bequests |
|
A number of opportunities exist that allow a donor and/or one or more
beneficiaries to receive income from a gift for the life of the donor
and/or beneficiary or for a fixed term. In each case, after the period for the donor or the designated
beneficiary to receive income payments ends, the gift passes to the
University of Florida Foundation. An individual may specify which area of
the university they would like to support including the George A. Smathers
Libraries. In the year the gift is made, the donor is eligible for a
charitable income tax deduction for the value of the charitable remainder
interest. For more information on a gift annuity, charitable remainder
unitrust, charitable remainder annuity trust, charitable lead trust, the
pooled income fund, or a retained life estate arrangement, call Director
of Development or visit the Planned
Giving portion of the University of
Florida Foundation Web site. A
bequest to the George A. Smathers Libraries is a gift that comes to the
libraries upon your death, or the death of your surviving beneficiary,
through a special clause in your will. Bequests are eligible for gift
receipts that can be used for tax credits towards final income tax payable
in the year of death and the previous year, up to a limit of 100% of the
taxable income. A bequest can be specified to fund an endowment, renovate
a building, or be used for operating support over a period of time. A
bequest may also be a gift in kind such as real estate, works of art, or
books for the library. A charitable bequest enables
you to keep control of your assets during your lifetime and make a gift to
the university at your death. You will be entitled to an estate tax
deduction for the fair market value of the assets bequeathed to UF. To
ensure compliance with donors' wishes, help obtain state matching funds
and receive important recognition, it is important to document an estate
commitment with the foundation. Sample wording of a typical
bequest for the University of Florida George A. Smathers Libraries: *Gifts of less than $30,000 will be used for current, non-endowed purposes. |
